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17.6.2024 | Last updated: 17.6.2024

3 min read

Nomentia Cash Management May Product Updates

Enhancing your financial operations with security, connectivity, and usability

New features, enhancements, and bug fixes! Nomentia Cash Management 2024.05 release introduces enhanced security with compulsory MFA, expanded bank connectivity, and numerous usability improvements to ensure greater protection, flexibility, and efficiency for users managing their financial operations. Let’s explore:

Strengthening security with compulsory multi-factor authentication (MFA)

Integrity and trustworthiness of financial operations demand strict security measures that protect financial data and transactions from fraud and cyber threats. That is why security remains our top priority, and with this release, we have made Multi-Factor Authentication (MFA) compulsory for all our SWIFT L2BA customers, as it aligns with SWIFT's requirements.

Our customers that have MFA in use have the option to make it compulsory to improve their security.

Key benefits:

Enhanced protection: Having MFA as a mandatory security layer ensures that all users must authenticate using two factors—either via phone call or SMS—before accessing the platform.

Administrator control: Once MFA is enforced administrators cannot disable it, providing consistent and robust security across your organization.

Expanding Bank Connectivity

Our goal to provide seamless banking experiences continues with the addition of numerous new bank connections. The 2024.05 release includes: Twenty-five new EBICS bank connections, two new SFTP bank connections and one new API bank connection. Check out our website for a full list or request more bank connections.

Key benefits:

Greater banking flexibility: These new bank connections give you more options to integrate with your preferred banking partners.

Improved efficiency: Streamline your financial operations by connecting directly with a wider range of banks.

Enhancing usability and functionality

We have implemented several updates to make our platform more intuitive and user-friendly:

Accounts module improvements: You can now define default and required dimension values in Posting dimension settings and manage multiple transactions with ease in Workspace.

Export and reporting enhancements: Improved readability in PDF reports and calculated totals for paginated account statements help you to maintain clear financial records.

Liquidity module updates: You can now customize how company data is displayed in reports and easily track transactions with the new Transaction ID column.

Key benefits:

Accurate data entry: The new dimension value settings ensure that necessary data is always captured.

Clearer reporting: Enhanced export options and report readability make it easier to analyze your financial data.

Streamlining payments

Our Payments module has received significant upgrades to enhance accuracy and efficiency:

Mandatory dimension values: Ensure all necessary posting dimension values are entered before saving payments.

Payments-on-behalf-of (POBO): Now supports multi-currency external bank accounts, which simplifies international transactions. Note: POBO only available for Nomentia In-house bank.

Improved validation: New controls prevent payments from being rejected due to incorrect decimal formatting.

Key benefits:

Reduced errors: Mandatory dimension values and improved validation controls minimize the risk of payment errors.

Simplified international payments: POBO functionality with multi-currency support makes managing global transactions easier.

Improved Archiving and Integration

To make document management more straightforward, the archiving process now ensures attachments are named consistently. Integration flows have also been enhanced for better efficiency:

View flow Runs efficiently: Easily view details of specific flow runs in the Integration flows module.

Human-readable reports: Export transaction reports in formats that are easy to read and understand.

Key benefits:

Consistent document naming: Simplifies the management and retrieval of archived documents.

Efficient integration: Enhanced flow run views and readable reports improve operational clarity.

Introducing the Treasury Module

We are excited to unveil our new Treasury module, an extension of the Nomentia Treasury Management solution. This module supports the accounting of deals and deal cash flows, offering functionalities like:

  • Viewing cash flows and accounting entries.
  • Running posting rules.
  • Exporting postings to general ledger systems.

Key benefits:

Automated treasury accounting: Gain better visibility and control over your treasury operations and treasury actions reporting. NOTE: Accessing the Treasury module requires a separate license. Ask more.

Nomentia Cash Management 2024.05: improved financial operations

The Nomentia Cash Management 2024.05 release brings significant improvements that enhance security, expand connectivity, and streamline usability, ensuring you have the tools needed for efficient financial management. We are committed to continuously improving our platform to meet your evolving needs. 

For more information about this release, new features or to request a demo, get in touch here.